TMC Life Sciences Bhd, which operates the Tropicana Medical Centre and TMC Fertility Centre, quadrupled its net profit for the quarter ended Aug 31, 2015, to RM 2.89mil.The healthcare group, which this month changed its financial year end to Aug 31 from May 31, told Bursa Malaysia that the figure jumped 397% year-on-year on 29.8% higher revenue of RM30.07mil contributed by higher patient load arising from additional consultants recruited.
“Profitability improved due to higher revenue recorded and interest income earned,” it added.
Net profit for the last financial year ended May 31, 2015, was RM 9.92mil, a 54% increase from the previous year. This was mainly due to higher interest income of RM 2.9mil earned from warrant conversion proceeds and recognition of net deferred tax credit of RM 2mil, partly offset against one-off corporate exercise cost of RM2.5mil.
On its prospects for the current financial year, TMC said the healthcare sector’s growth prospects remained positive, fuelled by changing demographics, a more affluent society and more health-conscious lifestyles in Malaysia. It also noted the growth of medical tourism.
However, the recent foreign exchange rate movements had affected imported supplies of medicines and medical equipment along with the imposition of the goods and services tax and rising manpower costs, had impact on TMC’s operating cost structure.
“Nonetheless, the group continues to expand the breadth and diversity of our services to generate more revenue growth. With the two new wards comprising 51 beds completed on Sept 9, 2015, our hospital (Tropicana Medical Centre) in Kota Damansara now has a capacity of 200 beds,” said the company.
/theSTAR 21-10-2015
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